Today's Labour News

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arcelormittalReuters reports that ArcelorMittal SA (Amsa) said on Monday it would be closing its steel operations at its Saldanha Works because it could no longer compete in export markets.  

The company, majority-owned by ArcelorMittal, announced in September that it could close some operations as part of a review aimed at strengthening long-term sustainability amid cheap imports, rising costs and a flagging local economy.  In a statement, the company indicated that it would undertake an orderly and commercial wind-down of the Saldanha operation, which apparently employs 568 staff and produces 1.2 million tonnes of steel per annum.  It added that the process to wind the operation down would begin immediately and was expected to be completed during the first quarter of 2020.  Amsa said on Monday there were constructive discussions ongoing with stakeholders, including the government and organised labour, to find “alternative solutions to the dire situation in the SA steel industry”.  The next phase of its review will focus on its operations in Newcastle in KwaZulu-Natal and some long-steel products rolling facilities.

  • Read the full original of the report in the above regard by Emma Rumney at Moneyweb

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